The Bank of Cyprus Group has completed the securitisation of a mortgage loan portfolio in Greece. This is the first securitisation of a bank incorporated outside Greece using Greek assets, and the objective is to enhance further the Group's liquidity ratios.
The Residential Mortgage Backed Securities, amounting to euros 1 bn, have been issued by Katoikia I Mortgage Finance Plc, a special purpose entity registered in the United Kingdom, and have been listed on the Luxembourg Stock Exchange.
Class A Notes, rated Aaa by Moody's, amount to euros 886,6 mn. Class B Notes, unrated, amount to euros 113,4 mn.
The securitisation has been arranged by Barclays Capital.